#币安广场 ZEC is taking a beating today, down 10% in 24 hours. It slid all the way from 1196 to around 1000 before finally finding a brake.
Technically, this has been a steady decline from the previous high of 1380. The drop accelerated after breaking below the consolidation range around 1200—a textbook breakdown and sell-off. The current price is 1044, with the MA7 at 1112 and the MA25 at 1216. Price is well below both moving averages, and the bearish alignment remains intact.
However, the RSI has plunged to 18.4, while the lower Bollinger Band is at 1050. Price is basically hugging the lower band, so it’s oversold in the short term. The MACD histogram is still expanding on the negative side (-19), so the downward momentum hasn’t let up yet.
Next, all eyes are on the 1000 level: if price holds above it, the first thing to watch is whether a rebound can reach the MA7 at 1112. If it fails to hold and breaks below 1000, there isn’t much meaningful support below. $ZEC
Technically, this has been a steady decline from the previous high of 1380. The drop accelerated after breaking below the consolidation range around 1200—a textbook breakdown and sell-off. The current price is 1044, with the MA7 at 1112 and the MA25 at 1216. Price is well below both moving averages, and the bearish alignment remains intact.
However, the RSI has plunged to 18.4, while the lower Bollinger Band is at 1050. Price is basically hugging the lower band, so it’s oversold in the short term. The MACD histogram is still expanding on the negative side (-19), so the downward momentum hasn’t let up yet.
Next, all eyes are on the 1000 level: if price holds above it, the first thing to watch is whether a rebound can reach the MA7 at 1112. If it fails to hold and breaks below 1000, there isn’t much meaningful support below. $ZEC
